The Global Green IoT Market Analysis, 2020 market research report depicts a deep-dive market analysis of statistics of Global Green IoT market which consists of global and region-wise market size, market forecast, CAGR, market segmentation, market share of various components, node components, network infrastructure, application areas, connectivity technology, etc.
According to MarkNtel Advisors’ research report titled “Global Green Internet of Things (IoT) Market Analysis, 2020”, the Green IoT market across the globe is forecast to grow at the astronomical CAGR during 2020-25. The major factors contributing to the market growth of green IoT strict regulation for energy efficiency to reduce energy consumption, growing number connected devices and integration of IoT in smart wearables, smart city, industrial intranet. It is estimated that until 2025, there would be around 41.6 billion connected devices globally. However, the COVID-19 pandemic impacted the Green IoT market in 2020, due to a low demand for the solutions and services for green IoT across the globe. Moreover, the demand for green IoT would significantly gain pace in 2021 with the gradual recovery of global economy.
Furthermore, various governments’ stringent regulations for energy efficiency to reduce energy consumption is resulting in the deployment of green IoT solutions. Also, the surging number of smart homes, smart wearables, smart city, industrial intranet, connected cars, smart farming, and supply chain are some of the contributing factors which are resulting in the demand for green IoT solutions to limit the overall energy consumption.
Asia-Pacific to Emerge as an Potential Market for Green IoT
North America, being an early adopter of technology, acquired the major market share in 2019. The increasing IoT spending in the U.S and Canada coupled with the IoT connected devices is resulting in the growth of green IoT solutions. In 2019, the U.S spent around USD 192 billion on IoT. Furthermore, the availability of numerous local and foreign solution providers in the region would contribute to the market share growth of green IoT. However, APAC is expected to grow at a robust pace in the forecast period of 2020-25 owing to the increasing investment in R&D toward technological development for energy-efficient solutions.
Software Segment to Dominate Market During 2020-25
In 2019, the software segment acquired the major market share, and the same trend is expected in the forthcoming years. The increasing industrial IoT deployment resulted in the growing need for software as per the requirement. Besides, the integration of other technologies such as AI and ML in the green IoT industry is contributing to the growth in the demand for software. Furthermore, the need for consultation, support, and maintenance are the key factors due to which the market share of the software segment is on the rise.
The manufacturing and healthcare sectors would account for a considerable share in the forthcoming years due to the increasing investment in IT solutions in the manufacturing sector. Moreover, growing energy consumption due to a rise in number of IoT deployment and connected devices is resulting in the demand for green IoT, as stated in the MarkNtel Advisors’ market research report “Global Green Internet of Things (IOT) Market Analysis, 2020”.
According to MarkNtel Advisors, the availability of numerous local and foreign players in regions makes the global industry highly competitive. The key players with a considerable share in the industry are Intel Corporation, SAP SE, Cisco, Microsoft Corporation, IBM, Oracle, PTC Inc., Google, HP Enterprises, Amazon Wen Services, Bosch Software Innovation GmBH, General Electric, Telit, among others. The players are launching new products and doing strategic alliances to gain a competitive advantage in the industry.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
A. The market size/industry size or the market value is measured in terms of USD Million.
A. The Global Green IoT Market is expected to grow at the exponential CAGR of around 45% during 2020-25.
A. It is forecast that North America will dominate the market with majority market share, and market size registering considerably higher CAGR.
A. Intel Corporation, SAP SE, Cisco, Microsoft Corporation, IBM, Oracle, PTC Inc., Google, HP Enterprises, Amazon Wen Services, Bosch Software Innovation GmBH, General Electric, Telit, Others, are the leading players in the Global Green IoT market.
A. The Software Segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
A. The manufacturing segment grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and service provider of Green IoT Market.